Saturday Learning Series - Money, Banking and the Federal Reserve

Last week, I ended the Saturday Learning Series with a Murry N. Rothbard video as a palate cleanser.  It was a simple yet effective counter point worth following up on here with more from the Mises school of thought via Mises Media. This video explains Money, Banking and the Federal Reserve. A little less dry yet equally effective as Rothbard.

Thoughts on the Republican candidates debate

I'm a political junkie so you'd be pretty safe in assuming I'd be glued to Fox News' Republican candidates debate yesterday evening.  And I did watch it, for all of about 8 minutes.  But even I could not stay tuned.  It's not that I thought it was bad.  It's not that I thought the candidates were bad.  In fact these are some quality guys.  But for some reason it could not hold my attention.  By the time the local rerun of Big Bang Theory came on, I was long gone.  Perhaps it was too early in the election cycle, or maybe I just wasn't in the mood.  If I couldn't stick around to watch some good people who probably won't be the nominee debate each other, then I can't imagine there was a big audience for it.  So the debate was almost like an exhibition game where a number of the practice squad players and rookies were on display.

I have nothing major against any of those candidates, in fact at least one was someone I could see myself supporting.  But I just don't see it materializing for any of them, at least not yet.  In fact, the more I think about it the more it feels like the pre-season.

Unemployment up. That’s good news. Wait, what?

The numbers from BLS for April have come out and unemployment rose back up to 9% from 8.8% percent the previous month.  That’s good news apparently.  Wait what?  How on earth do you spin that one?  It sounds like the climate change arguments that a colder planet is a result of global warming (or rather, ‘climate change’).

Integrity in reporting: latest jobless claims news item doesn't show it.

The most recent weekly jobless claims 'unexpectedly' rose to an 8 month high, of 474,000 last month.  But not so unexpectedly, someone had a ready, but not entirely plausible explanation for it.

With data hinting at a slowdown, no surprise given the phony government spending bulge that made the last  quarters look a little more rosy, the latest jobless claims lend credence to the idea maybe this recovery isn't as massive as a Recovery Summer II advocate would have you believe.

URGENT Le·gal In·sur·rec·tion MUST READ

Le·gal In·sur·rec·tion: Senate To "Go To War" Today Over Jack McConnell Nomination.  There's a reason this nomination today is so important.  Please take a look at Professor Jacobson's post to find out why and then do what you can to affect the outcome.  Either help spread the word (like me) to people who live in the states that matter, or call your Senator to express your opinion if your senator is on the fence on this.  Professor Jacobson has even done some of the legwork for you by providing their phone numbers.

And yes, there is an urgency to this.

Make a difference.

Beinart: Obama IS a tough guy! No really. Not kidding. Honestly.

What did I tell you? I wrote yesterday that "Obama the tough" was nothing more than election mode Obama.  He's not a tough guy, but he plays one on TV, or rather, he's trying to do so.  Obama has been seen by many to be an American apologist - bowing to Saudi Kings and harboring the notion in other nations that America has done wrong.  But now it's getting closer to 2012 election time, and President Obama needs to fix his image at home if he wants to win.  I'm sure this is the first in a series of damage controls that will include some post-partisan shtick too.  But while the notion of Obama the tough is laughable to many of us, it's already getting some play.